OpenSea Signals Integration of Solana NFTs by April

Solana's non-fungible tokens (NFTs) will be available for buying and selling on OpenSea's website by April. The company signalled via a video on Twitter.

The launch date, however, is yet to be revealed. Following Ethereum (ETH), Polygon (MATIC) and Klaytn (KLAY), Solana will become the fourth blockchain that OpenSea will support.

Currently, Solana users can only trade NFTs on Magic Eden, Solanart and SolSea, but the largest marketplace for NFTs will be open as a new avenue for trading next month.

Transactions in OpenSea largely happen on Ethereum.

OpenSea successfully raised $300 million in a funding round earlier this year which took its valuation to $13 billion. Crypto VC Paradigm was among the backers, and the fund was launched by Katie Haun, a former general partner at a16z.

The NFT marketplace has also launched a venture program of its own. The idea behind it is to invest in startups and projects involved in NFTs.  

In February, OpenSea moved to launch a venture program of its own, with the idea of investing in startups and projects within the NFT ecosystem. Social and gaming-focused projects are also being planned by the firm.

Blockchain.News reported in January that for the first time, monthly NFT trading volume breached the $4 billion level on OpenSea, according to data from market insight provider Dune Analytics.

It represented a 20% surge from the previous high of $3.4 billion hit in August 2021. Furthermore, the report added that the total sales in this market reached $25 billion in 2021.